Jeffrey Vinik

Jeffrey N. Vinik
Born	(1959-03-22) March 22, 1959 Deal, New Jersey
Nationality	USA
Alma mater	Duke University (B.S., Civil Engineering, 1981) Harvard Business School (MBA, 1985)
Occupation(s)	businessman, philanthropist
Known for	owner of professional sports teams

Jeffrey N. Vinik (born March 22, 1959) is the current owner of the Tampa Bay Lightning (NHL) and the Tampa Bay Storm (AFL), as well as a minority owner of the Boston Red Sox (MLB). He is also on the board of directors for Liverpool Football Club of the Premier League.

Early life

Vinik was born in Deal, New Jersey. He graduated Phi Beta Kappa from Duke University in 1981 with a bachelor of science in civil engineering. He also obtained an MBA from Harvard Business School in 1985.

Career

Vinik managed the Fidelity Magellan Fund from 1992 to 1996, where he averaged 17% annual returns. After leaving Fidelity, he started a hedge fund called Vinik Asset Management. He made investors 93.8% in his first 11 months and approximately 50% a year for the next three years. At the end of 2000, Vinik returned investors $4.2 billion and focused on managing his own portfolio.

Philanthropy

In 1998, Vinik and his wife, Penny, donated $1.25 million to endow a professorship at Duke's engineering school. The next year, they donated $5 million towards facilities at the engineering school. In 2012, they donated $10 million to create a challenge fund to endow associate and full professorships dedicated to addressing complex societal challenges.